loader image

Home > Blog > Get in quick for remaining drought assistance

Get in quick for remaining drought assistance

Date: 1 February 2021

There are still a number of measures available to those affected by drought! Take a look at our snapshot below and useful links for more information. In further news, the Emergency Water Infrastructure Scheme promises a share of $50 million in Government funding up for grabs, we’ll keep you in the know!

Currently available:

  • RIC Drought Loan
    • Up to $2 million
    • 10 year term
    • Can be used to refinance debt, pay for operating expenses and capital
    • Cannot be used for non farm assets & expenses, payout of dividends or equity, anything you have already received funding for
    • No close date
  • AgBiz Drought Loan
    • Up to $500,000
    • 10 year term
    • Can be used to refinance debt, pay for operating expenses, suppliers and wages
    • Cannot be used on purchase of private and domestic assets or expenses, tax bills, labour or dividends
    • No close date
  • AgriStarter Loan – Start up or succession planning  
    • Up to $2 million
    • 10 year term
    • Can be used to fund the purchase of an existing farm business, land, to buy out relatives during farm business succession and costs associated with succession planning
    • Cannot be used on purchase of private and domestic assets or expenses, tax bills, labour or dividends

Recently closed:

  • Emergency Drought Transport Subsidy. Applications closed 31 December 2020.
  • Donated Fodder Transport Subsidy. Applications closed 31 December 2020.
  • Animal Welfare Transport Subsidy. Applications closed 31 December 2020.
  • Disaster Recovery Grants. Application closed 31 December 2020.

Watch this space:

  • Emergency Water Infrastructure Rebate Scheme
    On 2 October 2020, the Australian Government announced an additional $50 million of funding towards the Emergency Water Infrastructure Rebate Scheme in 2020-21. More information will be provided when available.

Know More

The power of tax planning

The power of tax planning

No one wants a surprise when it comes to their tax obligations! With the March BAS soon to be prepared it is an appropriate time to talk to your accountant about year-to-date results and look at long term opportunities. Reduce tax liability: One of the primary reasons...

read more
x2 Grant Opportunities Available!

x2 Grant Opportunities Available!

The NSW Government has recently introduced two grant opportunities: Farms of the Future Agtech Grant Program Energy Efficiency Grants for Small and Medium Sized Enterprises (Round 1) Farms of the Future Agtech Grant Program The Farms of the Future (FoTF) Program will...

read more
Estate Planning Case Study

Estate Planning Case Study

Tax + Legal Estate Planning Case Study The following case-study is an adaptation of a real-world solution provided by the Roberts + Morrow Tax + Legal team. Background Jeremy and Lisa have recently considered their succession and estate plans, approaching Roberts +...

read more